
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC581]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                   Subchapter H--Banking Institutions
 
Sec. 581. Definition of bank

    For purposes of sections 582 and 584, the term ``bank'' means a bank 
or trust company incorporated and doing business under the laws of the 
United States (including laws relating to the District of Columbia) or 
of any State, a substantial part of the business of which consists of 
receiving deposits and making loans and discounts, or of exercising 
fiduciary powers similar to those permitted to national banks under 
authority of the Comptroller of the Currency, and which is subject by 
law to supervision and examination by State, Territorial, or Federal 
authority having supervision over banking institutions. Such term also 
means a domestic building and loan association.

(Aug. 16, 1954, ch. 736, 68A Stat. 202; Pub. L. 87-722, Sec. 5, Sept. 
28, 1962, 76 Stat. 670; Pub. L. 94-455, title XIX, Sec. 1901(c)(5), Oct. 
4, 1976, 90 Stat. 1803.)


                               Amendments

    1976--Pub. L. 94-455 substituted ``or of any State'' for ``of any 
State, or of any Territory'' after ``District of Columbia)'' and struck 
out ``Territorial'' after ``examination by State''.
    1962--Pub. L. 87-722 substituted ``authority of the Comptroller of 
the Currency'' for ``section 11(k) of the Federal Reserve Act (38 Stat. 
262; 12 U.S.C. 248(k))''.

                  Section Referred to in Other Sections

    This section is referred to in sections 165, 246A, 271, 279, 368, 
408, 409, 465, 501, 512, 514, 542, 585, 593, 864, 992, 1042, 1281, 
1397E, 6032, 6050P, 6323, 6695, 7512, 7603 of this title.
